STRIDES PHARMA SCIENCE LIMITED — Capital/Financing Update 2018

Nov 22, 2018

November 22, 2018

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Scrip code: 532531

The National Stock Exchange of India Limited Exchange Plaza , Bandra-Kurla Complex Bandra (E) Mumbai - 400 051

Scrip code: STAR

Dear Sirs,

Sub: Press Release

Please find attached press release issued by the Company titled:

‘Updates on Strides investments in Stelis Biopharma’

Thanks and Regards

For Strides Pharma Science Limited Manjula Ramamurthy Company Secretary

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Strides Pharma Science Limited

(Formerly Strides Shasun Limited) CIN: L24230MH1990PLC057062 Corp Off : Strides House, Bilekahalli, Bannerghatta Road, Bangalore - 560 076, India Tel: +91 80 6784 0000 Fax: +91 80 6784 0700 Regd Off : 201, Devavrata, Sector 17, Vashi, Navi Mumbai – 400 703, India Tel: +91 22 2789 2924 / 3199 Fax: +91 22 2789 2942 info@strides.com; www.strides.com

Press Release November 22, 2018

Updates on Strides investments in Stelis Biopharma

Strides to maintain significant ownership in Stelis with additional investment of US$ 15 million in current round of funding

Bangalore, November 22, 2018- Strides Pharma Science Limited (Strides) today announced that the Board of Directors of the Company have approved the participation of Strides in the Series B fundraiser of Stelis Biopharma Private Limited (Stelis) with a commitment of US$ 15 million in a US$100 million fund raise.

Strides currently own 36.25% stake in Stelis, the former biopharma division of Strides. In the last 24 months, Stelis has advanced significantly with two of its lead assets now ready for filing in the regulated markets. The first close of the current fund raise is US$ 35 million of which Strides will commit US$15 million and US$ 20 million is from other existing shareholders.

With the first close of Series B, Stelis would have raised an equity capital of ~US$ 114 million of which Strides would have invested ~US$ 37 million for an effective ownership of ~38%.

Update on Stelis

A. Manufacturing Facility

Stelis has completed the construction of its modern state of the art biopharma manufacturing facility at Bengaluru. The Drug product block of this facility is in the final stages of validation and is expected to go commercial for manufacturing and high end CDMO services in the Q4 FY19. The Drug substance block will be commercially available by the end of Q1 FY20. Please find a link for a site walkthrough at https://photos.app.goo.gl/GET5jq9CtGMcAhSy8

B. Advanced stage Assets

With regulatory filing milestones achieved for two key assets, Stelis is poised to emerge as an important player in the near term in the biopharma space.

Product	Therapeutic		Market	Market
	Area		Readiness	Opportunity
SBL001	Osteoporosis	•	Successfully completed the pivotal phase 1 clinical study in	~$2 billion
			Australia which meets filing requirements for EU, Australia, and
			Canada in CY19
		•	Phase 3 waiver for EU filing received
		•	Incrementalphase 3 studies for US byend CY20
SBL005	Osteoarthritis	•	EU approval to commercialise as a device expected in Q1 FY20	~$2 billion
		•	In advanced stages of concluding a co-marketing arrangement
			with a leading European player for EU markets
		•	Direct sales through distributors/Strides in other markets
		•	Incrementalphase 3 studies for US byend CY20

C. Early Stage Assets

Stelis is building its unique positioning with pipeline of five commercially attractive assets in early stage development including development of first of a kind innovative biopharma product.

About Strides

Strides, listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR), is global pharmaceutical Company headquartered in Bangalore. The Company has two business verticals, viz., Regulated Markets and Emerging Markets. The Company has a global manufacturing footprint with 7 manufacturing facilities spread across three continents including 5 facilities for Regulated Markets and 2 facilities for the Emerging Markets. The Company has strong R&D infrastructure in India with global filing capabilities and a strong commercial footprint across 100 countries. Additional information is available at the Company’s website at www.strides.com

About Stelis

Stelis, headquartered in Bengaluru, India, is a vertically integrated biopharmaceutical company with R&D, process scale-up and end-to-end manufacturing capabilities from biological drug substance to aseptic fill-finish in various injectable formats. The Company is committed to high-quality, affordable bio-therapeutics play through a combination of its internal biosimilars pipeline and high-end CDMO and CMO services for external customers. The Company houses two facilities in Bengaluru India including a state-of-the-art R&D and clinical-scale GMP facility and a 200,000 square feet bio-manufacturing campus for commercial manufacturing of recombinant bio-therapeutics from drug substance to the finished & packed product. For more details , please visit www.stelis.com

For further information, please contact:

Strides	PR Consultancy
Badree Komandur	Fortuna PR
Executive Director - Finance	K Srinivas Reddy: +91 90005 27213
+91 80 6784 0747	srinivas@fortunapr.com
Investor Relations:	K Priya: +91 95354 25418
Kannan. N:+91 98450 54745	priya@fortunapr.com
Vikesh Kumar:+91 80 6784 0827
Sandeep Baid:+91 80 6784 0791
Email: Sandeep.baid@strides.com
Strides Pharma Science Limited
(Formerly Strides Shasun Limited)
CIN: L24230MH1990PLC057062
Regd. Office: 201, ‘Devavrata’, Sector - 17,
Vashi, Navi Mumbai - 400 703
Corp. Office: Strides House, Bannerghatta
Road,Bangalore – 560 076